Wolf Money(Keppel raise offer for SPH)

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Keppel had announced they will increase the takeover price of SPH by increasing the cash component for $0.20. The final offer price base on the current price of all the shares involved in the exchange will be $2.351(base on 9/11/2021). 

SPH will be allow to receive offer and enter into a legal agreement with any party up till end of 16 Nov 2021.

As mention in my end Oct portfolio update. In my personal opinion an increase in offer of not more than 10 percent still make sense for Keppel. The new offer by Keppel will increase the takeover cost by approximately $320m which is around 9.5 percent higher than the initial offer of $2.099. Although the increase in offer is slight higher than what I would hope for but it does provide certainty that this takeover wouldn’t be an expensive long drawn process for Keppel shareholders. The latest offer will be the final offer. Keppel will walk away if there is a higher bid for SPH. With the offer, net gearing for Keppel will still be under 1.0. It takes away the uncertainty of Keppel having to do a rights issue to fund the takeover war. The uncertainty of the takeover is lifted. I continue to be steadfast with my Keppel Corp holding.


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All investments is highly speculative in nature and involves substantial risk of loss. We encourage our reader to invest very carefully. We also encourage reader to get personal advice from your professional investment advisor and to make independent investigations before acting on information that we publish. Much of our information is derived directly from information published by companies or submitted to governmental agencies on which we believe are reliable but are without our independent verification. Therefore, we cannot assure you that the information is accurate or complete. We do not in any way whatsoever warrant or guarantee the success of any action you take in reliance on our statements. All information provided are for information only. Buyer beware,do you own due diligence.




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